MHA Brokers Sales of Four Metro Atlanta Apartment Communities for a Total of $71.7 Million

ATLANTA, GA (Nov. 4, 2015) — Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of four apartment communities located in Norcross, Georgia for a total of $71.7 million.

Josh Goldfarb

Josh Goldfarb and Tyler Averitt of MHA’s Atlanta office represented the Boston-based seller, Realty Financial Partners, in the transactions. MHA has now brokered the sale of 51 properties in the metro Atlanta area over the past twelve months.

“Employment and population gains continue to fuel economic growth. Rent increases, due to both heightened demand and the desire for better living, have been widespread” Goldfarb said. “All four of these Norcross-based properties should benefit from repositioning, as limited new apartment supply has been delivered in Gwinnett County.”

Details of the deals are below:

·        King Rook Capital, with corporate offices in New York, purchased Highland Reserve for $23.3 million. The 416-unit property was built in 1987.

·        Emma Capital Properties purchased Highland Valley for $18.75 million. The 300-unit property was built in 1985 and was subsequently renamed Princeton Heights Apartments.

·        Atlanta-based Audubon Communities purchased Highland Corners for $16.2 million. The 252-unit property was built in 1979.

·        Atlanta-based Marquis Investments purchased Highland Lakes for $13.4 million. The 240-unit property was built in 1985.

For a complete copy of the company’s news release, please contact:

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com